
9.1 INTRODUCTION
The electric power industry across the world is experiencing drastic changes in the planning and
operation. For the past few decades, the electric power system is dominated largely by three sectors
namely, generation, transmission and distribution. Such a power system is referred to as, ‘ Vertically
Integrated System’. In the vertically integrated or conventional power system, the whole opera-
tion is controlled and maintained by a single entity which is mostly the government of a particular
country. Such a power system is a monopoly system. The conventional system delivers the power
from generating station to the end user i.e., ...